Ask the Accountant… Question: I’ve heard that QuickBooks Online automatically calculates sales tax. How does that work? Answer: Sales tax is calculated automatically in QBO, which is a big advantage and saves a great deal of time and effort to keep your sales tax rates current as you must do in QuickBooks Desktop. The sales…
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I love Dan Pena. He tells the unvarnished truth. He has a great short (30-second) speech that you are 2,000 cold calls from being a millionaire. He’s right. But the problem, as he so truthfully says, is that most people don’t want to be a peddler. Check it out: Yes, most buyers are happy…
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Are you familiar with the concept of Lifetime Customer Value (LCV)? If so, have you thought about it in terms of your own business? Have you ever thought about why LCV would even be important to understand or calculate? LCV is the value of the customer to your business over the lifetime of that relationship.…
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The older I get the more I hear people talk about being forgetful. Forgetting where people put their keys Forgetting why people went into the kitchen Forgetting where people parked their cars In my view, being selectively forgetful is a great thing. Most people will never achieve their full potential because of fear: Fear of…
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Ask the Accountant… Question: Do you have any experience with QuickBooks Live Bookkeeping? Answer: I have not personally worked with QuickBooks Live Bookkeeping, but I have had a couple of distributors come to me after trying to use this service. In one instance, a distributor had a QuickBooks file that he had not kept up…
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Ask the Accountant… Question: I’ve seen an offer from QuickBooks to set up QuickBooks Online for free. Should I use that? Answer: QuickBooks wants as many businesses as possible to be in QB Online (QBO), and they are using many means to convince businesses to switch from QB Desktop or to start their business in…
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As we ease back into the rhythm of work after the Thanksgiving holiday, it’s important to remember that an “attitude of gratitude” isn’t something that should end when the turkey runs out. Being grateful and saying “thank you” is something that we can keep up all year long. In fact, picking up the phone or…
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About 10 years ago I had some discussions with the owner of a company interested in learning more about Proforma. After a few conversations, he decided to maintain the status quo and not move forward. Fast forward 10 years. I get an email from a consultant telling me that the owner of that company has…
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Ask the Accountant… Question: Can I save changes to field widths that I have made to screens in QuickBooks Premier? Answer: Yes! Make the changes to the field widths on your screen. Leave the screen open, and go to: Edit > Preferences > Desktop View > Click “Save Current Desktop.” That should save your field…
Read MoreIn her best-selling book, “The Life-Changing Magic of Tidying Up,” author Marie Kondo identifies high levels of clarity and focus that result from eliminating unnecessary items from our personal and professional lives. Removing “clutter” brings with it an almost overwhelming sense of relief and an ability to spend more time and attention on the things that matter most. The same principal can be applied to our quest to make more efficient use of our time. To “de-clutter,” we must first identify and yes, write down how we spend our time…
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